Kathmandu. The share price of Himalayan Reinsurance (Himalayan Re) has reached an all-time high. At the close of trading today, the share price of Himalayan Re reached Rs 1,093 per share. Which is the highest ever.
Today alone, the share price of this company has increased by 7.25 percent or Rs 73.90. During trading today, the share price of Himalayan Reinsurance had reached Rs 1,100.
Earlier, the 52-week high of Himalayan Reinsurance was Rs 1,070. Which has been broken today. The company’s 52-week low is Rs 512.
Himalayan Reinsurance has been the most traded in the market today. Today, Himalayan Rico alone has traded shares worth more than Rs 1.38 billion.
The Nepal Insurance Authority has set the minimum paid-up capital of Himalayan Rico, promoted by the government-owned Nepal Reinsurance Company and the private sector, at Rs 20 billion. The authority has set a deadline of mid-January next year to achieve the minimum paid-up capital.
Himalayan Rico currently has a paid-up capital of Rs 10.4 billion. The company, which had an initial capital of Rs 10 billion, has reached Rs 10.4 billion after distributing 4 percent bonus shares to shareholders in the fiscal year 2079.80.
Himalayan Re’s third annual general meeting held on Falgun 20 last year has passed a proposal to issue 80 percent right shares worth Rs 10.4 billion, which will remain after distributing 4 percent bonus shares. According to which, the company is preparing to issue 80 percent right shares of Rs 8.32 billion. After the sale of right shares, the company had submitted a plan to the Insurance Authority to raise the paid-up capital to Rs 18.72 billion and the remaining capital to be raised by issuing bonus shares.
The Insurance Authority has already given prior approval to Himalayan Re to issue right shares. However, the company is yet to submit an application to the Securities and Exchange Board of Nepal to issue right shares. The fact that it is introducing rights shares has also increased investor interest in Himalayan Rico shares.
On the other hand, government-owned Nepal Rico currently has a paid-up capital of Rs 13.42 billion 21.87 million 100. This company distributed 4.75 percent bonus shares to shareholders in the fiscal year 2079.80.
Nepal Re also continues to offer rights shares as the only option to meet the minimum paid-up capital. The share price of Nepal Reinsurance Company was last traded at Rs 1,332 today. Today, the share price of this company has increased by Rs 9.
